5 Quality Stocks to Buy with Shares Down Over 30% YTD

In this article, we will take a look at the 5 Quality Stocks to Buy with Shares Down Over 30% YTD. To read our analysis of the iShares MSCI USA Quality Factor ETF, its performance, and weighting of the components as well as the risk/reward and methodology of this list, you can go to the 10 Quality Stocks to Buy with Shares Down Over 30% YTD.

5. NVIDIA Corporation (NASDAQ:NVDA)

Percentage of iShares MSCI USA Quality Factor ETF Holdings: 2.53%

Year to Date Performance as of September 22: -57.29%

Number of Hedge Fund Holders: 84

Founded in 1993, California-based NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company focused on the design and manufacturing of accelerated computing hardware and software products. Its core businesses comprise of Gaming, Data Center, Professional Visualization, and Automotive, with Gaming and Data Center making up for more than 80% of its revenues. Its GeForce GPU is used by more than 200 million gamers and creators, making it the market leader with 80% market share in PC Gaming.

After rallying substantially over the last five years, shares of NVIDIA Corporation (NASDAQ:NVDA) are down more than 57% year to date as of September 22 due to the lower NASDAQ.

Earlier in September, Needham analyst Rajvindra Gill lowered the firm’s price target on Nvidia Corporation (NASDAQ:NVDA) shares to $170 from $185 while maintaining a ‘Buy’ rating on the shares. Despite the lowering of price target, the analyst is positive about NVIDIA’s shares for “their attractive valuation, superior balance sheet, and robust data center buildouts”.

NVIDIA Corporation (NASDAQ:NVDA) is subject to bullish sentiment from a large number of hedge funds as 84 of the 895 hedge funds held its shares as of Q2 2022, with the total hedge fund holdings valued at $3.3 billion. Its largest shareholder is Citadel Investment Group.